Rights of First Refusal
The preemptive right given by an owner to a lessee that enables the lessee to have the first opportunity to buy the property (should the owner decide to sell it). The owner must give a legitimate offer, which the lessee can either accept or refuse.
The preemptive right given by an owner to a lessee that enables the lessee to have the first opportunity to buy the property (should the owner decide to sell it). The owner must give a legitimate offer, which the lessee can either accept or refuse.